Evening Star Newspaper, June 22, 1931, Page 15

FINANCIAL GURB SHARES GAIN NEW YORK CURB MARKET IN AGTIVE MARKET EET International Securities Take Lead in Steady Advance of Prices. BY JOHN A. CRONE. Special Dispatch to The Star. NEW YORK, June 22.—Spectacular spurts were made by stocks on the Curb Exchange today. The upswing, which was felt first in international securi- ties, was accompanied by increased ac- tivity as many bears, large and small, scampered to cover, Blocks of 10,000 shares of American Buperpower appeared at fractional gains. Electric Bond & Share opened on an 8,000-share block at a gain of more than 117 points. Citles Service, in & 3,500-share deal, improved a_trifie. International issues, such as Brazilian traction, American & Foreign Power warrants, _ford Motor, Ltd., of Canada A and lworth, Ltd., common, led the advance. British-American Ofil, British-American Tobacco B, Imperial Oil of Canada and Swift International also gained. Canadian shares, in point of lpm- ciation, made the best showing in forenoon. Hydroelectric securities up- ened up more than 4 points, and Mon- treal Heat, Light & Power was up about half that amount. Hiram Walker, I ternational Petroleum and other Do- minion stocks likewise firmed. Aluminum Co. of America and the various Aluminum Ltd., warrants as a group stocd out prominently. During the first two hours Aluminum Co. of America ran up about 12 points. The uptrend in oil stocks, begun late last week in response to advancin California crude prices, was resume today but on a more mcderate scale. Vacuum Ofl, Standard Oil of Indiana and Standard Oil of Kentucky opened higher, but Vacuum around midday again reflected fears that Standard Oil of New York may seek a revision of the original merger terms. President Hoover’s debt holiday pro- posal early was mirrored in the copper metay market and soon spread metal market and soon spread to Red by Newmont Mining, up more than 2 points, des?lt! its quarterly dividend ommission t week on which it had lost almost 4 points. Scattered throughout the miscella- neous industrials were numerous issues that gained several pcints or more. Driver-Harrls was up over 2 points and A. O. Smith Corporation rose more than three times that amount. FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Co.) Nominal gold Selling checks i 7. v $4.8665 3913 London, pound.. Paris, 'franc Blocknalm. "iro CHICAGO STOCK MARKET By the Asscciated Press. CHICAGO, June 22.—Following is the complete official Jist of transactions in on the Chicago Stock Exchange STOCKS. Lab . 10 Altorier “Bros Pub ser pi . 50 T & T 6% BI. 2230 Assoc Tel Uil Assoc Tel Uul 64 'pt 30 Assoc Tel Ull 7 B 8 Hizh. Low. Close. ug e 3 S conmuumn I Fub Ser pr. 30 Goleman Limp & . 575 Com'with ghlcatn Corp.. 900 Gt Lakes 2150 Gr Takes Drease. 500 Griesby-Grunow . 50 Hall Print 330 Hart-Carter 300 Houdallle-Ho 100 Houdaille-Her 1840 xmun ol 300 U pf ‘3d 23 Invest 8o ot Am 50 Relloge ~ Switch 30 Libby-McNelll 200 McWilliams Drmr = 0 Merch & Mfrs 20070 Mid“Wwest mn 50 10 Mia W O B 470 Midland United " 2% | $50 Zemitn” Radio 23 Btock sales today, 180,000 shares. BONDS. neull Util 65 1940, son 65 267 1943, 300 Chi Ry ctfe s 1921 85 867 1101y 1701, 1181, g 01 0 e BALTIMORE STOCKS. Special Dispatch to The Star. BALTIMORE, June 22. Bale. STOCKS. 553 lfmmnkre prust Co.. T ""8“ Telephone Balt Last sale. - Id l““ & eiity n' Marsiand Dairy pid BONDS. 4000 & Elec 1st ds. 1900 Gnlted Rva Smieeindome i More than half the world’s 1930-31 cotton mp of 25,500,000 bales was saised in ‘America. 11 Aluminum Co of Am uflonzfi Aluminum Co Ltd. 5 Alum Litd A war. Aluminum,Ltd B Aluminum,Ltd Cwar, Aluminum,Ltd Dwar. Am Austin Car. . Am British & Cont. .. Am Capital B. . Am Cit P&L(A) (a3) Am Cit PEL Bb10%. Am Com P A (b10%) Am Corp (f16¢) . Am Cyanamid B. Am Founders. . Am Gas & Elec ($1).. Am Gas& El ot (8).. Am Lt & Trac (2%). Am Lt & Tr pt (13%). Am Maize Prod (2).. % Am Maracaibo.. Am Meter (3) Am Natural Gas. Funon Am St Pu Sve(al.60) Am Superpow (40¢). Am Superp 1st (6).. Am Ut{l&Gen (B)vte Am Yvette Co (25¢). Anchor Post Fence Appalachian Ga: Appalachian Ga: Arcturus Rad Tub Arkansas Nat Gas... Arkans Nat GasA... Ark N G cu pf (60¢c). Asso Gas & Electric. Asso G&El (A) (al). Assoc G & El war... AssocG& EAdbrts Assoc G & E pf (5).. 190 Atl Fruit & Sugar. Atlas Plywood (2) Atlas Utll Corp...... Auto Vot M ev pf pt,~ Babcock & Wil (7) Bahia Corp..... Beneficial IL (1%).. 3lue Ridge Corp. . ... Biue Ridge cv pfal. Bohack (HC) 1st pf 7 25 Bower Roll Bear (1). Braz Tr & Lt (b8%). Brit Am O11 C (80¢). Brit AT B 1.17 4-5¢). BritA T reg 1.17 4-5c. Br Celanese ret: Bunker Hill & 8§ Burco Inc war. Butler Bros. . Bwana M Kubwa Canada Marconl..... Carib Syndicate. Carnation Co (J1%) .. Cent Hud G&E (80c). & Cent Pub SvcA b10% 30 Cent Stat El (b10%). 160 Cent St El pf xw (6), Chat Ph Al n.v (1) Chesbrough Mfg t5.. Cittes Service (g30c) Cities Serv pf (6)... Claude Neon Lits, Ine Clev Tractor (80c) S0l Ol & Gas vtc. ... Cmwlth Edison (8). 250- Cmwlth & Sou war.. Com Wat Ser g12%e i Consol Auto Merch .- Consol Copper. Consol Dairy Prod. .. Con Gas Baito (3.60). nsol Trac N J (4). Contl G&E pr pf (7). Cont Shares conv p 2 - EL T P TPV e > 3 = 3 Torums o~ » LT I Cooper Bessemer Copeland Pr Inc (n). Cord Corp... Corp Sec Ch (k6% ) Corroon & Reynolds. Cor & Rey pf A (6).. Creole Petroleum Crocker Wheeler. ... Crowley Milner (2).. Cusi Mex Mining.... 4 Dayton Alr & Eng... Deere & Co (1.20).... De Forest Radlo. Derby Ol Refini 4 Detroit Afrcraft Cp.. 4 Douglas Alr (+1%).. Dow Chemical (2)... Dress S RA (3%)... Lresser Mfg B (2).. 4 Driver Harris new.. Dubllier Cond & Rad Duke Pow (5). Duguesne Gas Corp. . Durant Motors East St Pow B (1)... East Util Assoc cv. Eisler Electric Corp. 5 Elec Bond-& Sh (b6) 1355 Elec B & Sh pf (8).. Elec Pow Assoc(1). Elec Pow Asso A (1) Elec P & Lt op war EIl Sharehold (b6% El Shareh pf (a6%) .. Emp Corporation. ... Empire Pub Sve (A). Eturop Elec deb rts. . Ex-cello Alr & Tool. Fairchild Aviation. . Falcon Lead. 1258 22 7 Flintkote Co A.. Florida P & L pf (1) . Ford M Can A (1.20) Ford Mot Ltd 36 3-5, Foremost Fabric Fox Theater Cl A Franklin Mfg Co Gen Elec Ltd (p Gen The Equip cv pf. Gleaner Comb Harv., Globe Underwr (15¢ /. Gold Seal Elec new.. Golden Cen Goldman Sach T C Gra’'phne Ltd cfs 56c Graymur Corp (1). .. Gray Tel Pay S 13%. Gt At&Pac Tea nv(§) GrtA&PTDL(T).. Groc Strs Prod vte. Gulf Ofl of Pa (1% Hamilton Gas rets. ., Happiness Candy. Hecla Mining (40¢).. Heyden Chem (1)... Horn & Hard (2%).. Hulson Bay M& 8 Humble Oil (12%) Hydro Elec Sec 1.40., Hygrade Food Prod. Imp Ofl of Can (50c) Indiana Pipe Line(1) Ind Ter Illu O11 A. Ins Co ofNo Am 2% Insurance Sec (70¢). i Intercontinent Fetn 27 | CHICAGO LIVE STOCK MARKET CHICAGO, June 22 () (United | States Depastment of Agriculture) — Hogs—Receipts, 38,000 head, including 17,000 direct; fairly M:flve' 15 to mostly ul ?“o 250-350 pounds, 6.25a7.40; p: medium and good, 275-500 poumu, 5.258 6.10; s'sughter g}%fl. Fuod and choice, 100-130 pounds, Cattle—Receipts, 21,000 head; calves, 2,500; few yearlings 'and light steers about steady, but general run fed steers and yearlings drawing bids around 25 or more lower; butcher stock weak to 25 lower; bulls and vealers M. Slaughter cattle and vealers: :ood and choice, 600- j&o\mfi. 7.758 9.00; 900-1,100 pounds, 7.50a9.00; 1,100,~ 1,300 pounds, 'IWII 75; 500" pounds, 6.75a8. comms um; 600-1,300 pounds, 5.75a7.00. Helfnn. good and choice, 550-850 pounds, 7.0028.50; common and me- dium, 5. l)oa'l 25; cows, good sud choice, ~Prev. 1931 High. Low. Stock ana Dividend Rate. Int Hydro cv pf 3% 2:; Received by Private Wire Direct to The Star Office Mlll.m .Il'h- Low. Close. 41 41 Int Petroleum (1) High, Low. Close. 2% 20% nK % % Int Superp (11.10). Int Utilities A (3%). Int Utilities B. . Irving Air Chute fl) Itallan Superpow A.. 2 1 12 3 16 Kings Co Lt pf B (7). 50s % Kolster-Br (Am Sh). Lefcourt Realty 1.60 Leh Coal & Nav 1. Lerner Stores (2) Lone Star Gas n 8! Louisiana Lan & Ex. MacMarr Gtores (1). Magdalena Synd.... Mass Utcv pf (2%). Mavis Bottling (A) May Rad & Telev (1 McGraw Co (2 Mead Johnson (t Memph N G Co (80c) Met Chain Stores. Mich Gas & Ol Corp. Mid Sts Pet vtc A 22¢ Mid St Pet vtc B, Mid WSt Ut (1%).s AMid West Ut (b3% ). Midland Unit (b6%). Mo-Kan Pipe L (A). Mo-Kan Pipe L (B).. Mohawk Mining (1). MonWPPSpfi1y. Mont Lt H&P (13%) Moss Gold Mines. Mountain Prod (1). Nat American Co. Nat Aviation. .. Nat Bd & 8 Corp (l)- Nat Family Stores. Nat Fuel Gas (1) Nat Investors. Nat Pub Sv A (1.60). Nat Screen Sv (2)... Nat 8 T Sec A (350¢) Nat Union Radlo.... N'wEntPs prin7.. Penn; Penn llw 17% 124 11% 63ta 63% mo4 A% 4% 3% 3 201° 199'% kM 0% 10% 4 103% 1034 - 14 13% 13% 19 14% n 20% 1 1% 1% % 2% 10% 1% 6% 100 18% 17% 12% 11% & & % 3 3 3 14% 14% 24% 21% 64 64 200 198 200 119% 119% 1 4 4 L) 51 3% 3% 1% 4 Swift Internat (3)... Sylvanite Gold Mines Tenn El P 1st pf (7). Texon Oll&Land (1), ‘Tob Prod Exp (10¢c).. Tran. Triglex Safety Gla ‘Tri-Cont Corp war. .. Tri-Utllitles. Tubise Cantiilon (B) Tung Sol Lamp (1).. Ungerieider Fin Cp. Union Am Invest. Union Oil Assoc (). Unit Chem pt ptf (3).. Unit Corp war. Unit Founders. Unit Gas Corp. Util PALt(ar1.| 01"). Ut P&L B Utll & Ind....... Util & Ind pf (1%) Utility Equities. Vacuum Ol (2)..... Van Camp Pkg. Venezuela Petroim. . Vic Finan Corp40c) Waitt&Bond B(80c). ‘Walker (H) (50¢). .. West Alr Exp (60c). Willlams R C 3 Buan ] e o wo o3 o R RONAR TN e R RPN AR N -UNAN RS DO - Nip! Noma Eieo Cp(doe). Nor Am Aviat A war. Nor Europ 0il Corp.. Nor St Pow A (3)... Ohio Brass (B) (2) Ohto Copper. Overseas Sec.... PacG&E1stpfl Pac Pub Svc A(1.38). Pac Western Oil. Pan Am Alrways Pandem O11 Paramount Cab Mfg. Parker Rust Pr (3)..2 Patterson Sarg (2).. d Corp (20e) & Pow (1) Perryman Electric. . Philip Morris Ine. ... Phoenix Secur Corp.. Phoenix SCpf (3)... Pllot Rad Tube A. .. Pitney Bowes (bt % Pittsbgh&L E(110). 2508 Plymouth 011 (1) Foterero Sugar. Producers Roy Corp. Prudential Invest. .. Prudential Inv pf(8) 250s Pub Util Hold war. . Pub Uil Hold Cp xw Pub Ut Hold cu pf(3) %« Pure Oil pf (8 % Railroad Shares (4 Rainbow Lum Pr B ) n 3 20 4 Republic Ga: LOYP Reybarn Co. Richfieid Ofi Cal pf Rock Lt & P (90¢). .. Rossia Intl Cp (10¢) Russek'’s Fiftn Ave. . St Regls Paper (60c) Salt Creek Pro(1.40). Seahoard Util (50¢).. Secu Corp Gen (40c). Segal L & H (a50e).. Relected ndustri Sentry Safety Cont ShawiniganW&P 2% Shenandoah Corp Corp pf (a3) Signature Hoslery. Smith (AO) (2).... South Penn Ol (1). ., # So Am Goid & Plat.. SouthCEApfB1%. South Corp.... SouthernNat Gi % Southld Royality 60e. S W Gas Utiliu; Spleg May Stern pf.. Stand Ol of Ind (2). Stand Ofl of Ky 1.60. Stand O1l, Ohio 4!%)500! Starrett Corp vf (3). Stand Pwr & Lt (2).. and P& L (B) (2), Stein(A) & Co (1.60). Stinnes (Hugo). Stutz Motor e - » - B NON0W TN WG T H000 R Unit Lt& Pwr pf (8). U 8 Elec Power ww.. 13 48 1.02%). 36 +.463s 7 6 1 22 1 70¢).. l'ssfi Wil-Low Cafaterias. 9“ Wiworth (FW) Litd. !12 idend rates in o 1 Plus .* lnmlmt stock. Blus 3% in stock. Divie Bual payment. e 400-500 common and medium, 3.508 low cutter and cutter, 2.25a3.50; Mllln (yearlings excluded), good and choice (beef), 4.0024.50; cutt.r to me- dium, 3.25!4 vealers - (milk fed), .0026.50. ———— SILVER PRICES GAIN. LONDON, June 22 (#).—President Hoover’s announcement had & strength- ening effect on the silver market, where spot metal jumped 15-16 pence per ounce t6 13 13-16. ‘The beers covered smartly and sup- vort came from China and India. 10% 10 quarteriy or sem TPlus based on 1 1Partly fi"” o ;ra m Plus 3% in Iast_year—no reguiar rate. OVERALL CO. PLANINNG TO INCREASE OUTPUT Special Dispatch to The Star. DANVILLE, Va., June 22—The Blue Buckle Overall Co., a branch of the chburg firm of the same name, W] increased mlnx P overalls. R. fdand. D/ C., MONDAY CHICAGO DAIRY MARKET. CHICAGO, June 22 (/) —Butter— Receipts, 18,340 tubs; firm; creamery- specials (93 score), 22%822%; extras (92 score), 21%; extra firsts (90-91 score), 20a21; firsts (88-89 score), 19a 119%; ueomu (86-87 score), 17a18; === 2 4 8 & P S3ase85eb :=z§§=5=§§s§ 53823282388 SEEE & ® e 33525258828 28588 - n:.g:m::u:. FENRR2EE et L £3 .__:(_’ (14 3330 2 H gidagaggatdss ===$S#f$$ & Brovand! oEe! 52ze5! %o 5 00! N 0 FSE- Sedges 2282828232282 REFE REESSEE e >3 o QT == o 00! g 52y & gSsggsses 253 i oepeae o 53, EEuE” ..w..«..ééé.é_ Bt 5 fes Service 55 ' les Service 8¢ 5 5! Serv in ] it ve Elec Il‘:: 71 '(l lofi'u H I 20900000 20902 1 3 Gon Gas Dl os A 33 2 Gongum Pow ¢! 42 Cont G 2 Duguesne G: 52 East Ut Int 44, SEecPer 5: A 2030 fapstane 90990 8 o BB o S 99! 8 HETE 200000 g&8! weSo8esea 85838, 2nnSupanasaay: T 8 A N B R% o Barsnona Do BEERETE X 835 Long Island Li l» 45 1081 EEzeeEr £EE los Pow & ot 1 R b A 51 uw Te ZRRR, arragansett Ss A Electric 5105 18- 68 55 B 2030 18 66 e B na e o B el 2 'z 53 New Eng G&E 5s 9 4 New Eng Pw 3.5 (54 88 B Pac ok 9 Pacific G k ERC 8 105 2Pa Cen P&L 438 'T1 16 Pern O Ed s',- B ] mo' 5 7Penn P & IPa Oh‘l&(l;&}. s';; 154 19.3' 7 Penn s ,;’ i 2Sen Al lE:rInnx A 2 5 5l o o 9014 10058 wil ln!’( 1003 .l T!X Texas Gas Ul.u 45, 8%, 10743108 132 91% 11a 97t 86% 2! e - 555 nuan - . o S5 gggcadag Y 4 < & EWes'ex Dube A8t FOREIGN BONDS. 11 Aer Mtg Bank s 47 uen Alr Proy 7 23 5 i i ...-::.-.—.:Em-.-u...-fi S g g S geRarsyP IR IegEos 553 FEE ==B§8=!BI8 SRRV ILS 230232 & & (3 Ine3 ww—Wii I Withous "werFaRLs. m-—wn-n issued. Gmflgfluln for g hls been in effect in several years. * | the trade. 1 | the largest in more than a year. JUNE 22, 1931. FINANCIA STOCK AND BOND AVERAGES By (he Associated Press. MONDAY, JUNE 22. (Copyright, 1931, Standard Statistics Co.) Grain Market By the Assocfated Press. CHICAGO, June 22—Reports that the Farm Board was expected to an- nounce it would sell no more wheat this year hoisted the wheat market afresh late today. There were also ad- vices indicating enlarged export busi- ness in North American wheat, all of- fers abroad over the week end being corn market, too, de- accepted. The Veloped into a big, broad affair, with late quotations at about the day's top poin when closed irregular, varying from 115 cents decline to 23, advance; corn, 75 to 1% up; oats showing 7% to 14 gain, and provisions at a rise-of | Low. Close. K -68 By the Associated Press. NEW YORK, June 22.—While re- | tailers continued to place a. large volume of reorders for popular-priced sales merchandise in the New York wholesale markets during the week, the total was somewhat below the previous week. Stores are now turning their attention t§ Fall lines. Buyers are | awaiting the first formal showing ol| new dress ranges for Fall this week, althcugh some orders already have | | been placed on silk and wool travel crepes. From present indications, an excellent coat season is looked for by The canned foods market was quiet last week. The only particular develop- ment was liquidation of Alaska red salmon, when stocks moved at prices below last year's level for the first time. Main sardine canners are quoting stocks a little easier. David C. Levine, who formerly was president of the Eastern Carpet Co. and later served as vice president of the Empire Carpet Co., has taken over a considerable interest in the Colonial Carpet, Co. and is planning for expan- sion of the busines> of that concern. Plans have been completed for the merger of the Chicago Fire & Marine Insurance Co. and the Presidential | Fire & Marine Insurance Co., accord- i ing to a bulletin issued by Alfred M. Best Co. It is stated that the merged | company, which will be the Chicago Fire & Marine Insurance Co., will luve $525,000 capital. WILL RE-EMPLOY 1,000. NEW YORK, June 22 (#).—The Youngstown Sheet & Tube Co. plans | to re-employ 1.000 men this week at its | ! Brier Hill works. The 41,000-ton pipe ' order booked by the company toward the close of last week was described as | SHORT-TERM SECURITIES. (Reported by J. & W. Seligman & Co) | Big. " Offer. | Allis-Chalmers Co. $s 1937.... 1007 | American Metal ‘818" 1634 American Tel, & Tel. 194 Beitimore & ohio u,: 1 Batavian Corp. Bell Tel. of c-n-a. s. 1951 n 103 : it n % nu ¥ Mot. Accep. Corp. Oenlrll Petroleum Corp Publie Service Sia Gooasear T & R 88 1087 Grand Trunl 5t Conada v io38 Gulf Oil of Pa. 55 1937 1 Humble Ol 5'as Internat. Match Marland' Ofl 5s 19: : National Dairy Prod. §¥ New York, Chi. & Pui lectric_Co. ‘the largest volume of business in a year Iopenlng. in ‘whieh we pointed out that 20': | h-aded by the Guaranty Co. Wester) | Wheeling Steel Corp. dvas 1048 New York Cotton|. Special Dispatch to The Star. NEW YORK, June 22—The cotton market advanced violently today under or more and closed around the top, 70 points higher than on Saturday. After opening up 60 points, the mar- ket sold off a quarter of a cent and then moved upward again $2 a bale, which carried October above the 10-cent level and just a cent and ‘a half above prices prevailing two weeks ago. Spots were advanced 70 points to 9.75. Cotton range: July Brokers’ Comment NEW YORK, June 22—The week end developments in the international debt situation were greeted with vary-| ing degrees of optimism in Wall Street | brokerage circles, some brokers express- ing the belief that it may mark the end of the bear market. Extracts from let- | ters to customers follow: Hornblower & Weeks.—There is every | indication that week end developments | in Washington may very well prove to have sounded the death knell of the! bear market. The extent of the re- covery Saturday morning certainly jus- tified our special message before the because our market for a considerable time has been under the influence of uncerteinty regarding the foreign situ- ation, the announcement that President Hoover was initiating a move to ald world economic recovery through relief for Germany, was a mMmost important piece of news marketwise. E. F. Hutton & Co.—As we under- stand it, the best informed shorts have bzen counting on the second quarter earning statements, a few belated divi- dend cuts, wage reductions and adjust- | ments in real estate. It looks as if it | will hardly prove a wise policy to post- | pone covering until the last piece of bad | news is out, as the market seemingly has discounted a great deal. Shields & Co.—Adjustment of the real estate credit situation is taking place. There probably were more evils in real estate speculation during the la- mented “new era” than in any other field. Therefore, it will take many months to wipe out and correct result- ing weak spots. With other ills cor- | rected, however, the real estate devel- opments will not interfere with general ! business recovery. & Rockwell.—Senti- | changes very quickly | in Wall Street, but a two-hour session does not afford sufficient time to dem- onstrate the effect of such a posslble‘ change. A number of important divi-| dent meetings will be held next week | and results of these meetings will be awaited with much interest. NEW SECURITIES NEW YORK, June 22 (#).—New se- curities offered today include: City of Providence, R. I, $2,000.000 4 per cent bonds, dated July 1, 1931, maturing 1932 to 1961, priced to yield 175 to 3.70 per cent, by syndicate of New York. METAL MARKET. NEW YORK, June 22 (#)--Coppexr steady; electrolytic, spot and future, 8 Iron quiet; Ne. 2, f. 0. b. Eastern Penn- sylvania, 16.00a17.( Buffalo, 15.00a 16.0C; Alabama, 11.00213.00. Tin firm spot and nearby, 24.00; future, 24.1 Lead firm: spot, New York, 4.00; East ' St. Louis, 3.85. Ziuc firm; East St.| Louis, spot and future. 3.35a3.40. Anti- mony, §05. Qu(ck Ilvtl’, £9.00. TB.EASUBY CERTIFICATES. orted by J. & W. Selisman & Co.) aturity Bid. _Gffer. . - 100 29- !‘,’xt Dec. 15, I’SI-H . 101 15-32 100 17-33 {low ground as supplies increase. r LIVE STOCK PRICES CONTINUE STRONG Rapid Gain in Hog Valuey Proves Feature of Re- cent Market. BY. FRANK I WELLER, Assoclated Press Farm Editor. ‘The sensational rise of hog prices tg the highest general level since late i April featured the last live stocks marketing period, but the continued strength in cattle was of no less sig~ nificance. ‘The latter, in fact, probably demon- strated the undt g head more than the week before and at practically the same prices. Even a res currence of the traditional price-break« ing Monday run of 20,000 head at Chie cago could not batter down the strength of light steers and year‘unfz, and gen- eral values closed about in line with the middle of May, just previous to the bad slump which sent values to the lowest levels in 20 years. Range Stock. ‘While, seasonally, the country's sup- ply o( fed steers would be low, there is estion how long the market can wlt hnd the liquidation which has followed the two weeks in which cattle finishers held back while the dressed trade worked off its accumulated stock. There is sufficlent scarity of fed cattle to ke! prices on that class from slipp Range stock is coming to mari ec ln “better condition than us- ual, but until consumer demand im- proves the trade is not much inclined to pin its faith on the current strength of cattle showing grass of overweight. The dressed beef market reported an active and firm trade on_light-weight carcasses, but the 50 to 75 cent slump in heavy carcass beef was reflected in the live market's close 25 to 50 cents under the high time last week on medium and heavy steers. Drylet material received good action and firm prices in the butcher-stock market, while grassy kinds were discriminated against, a usual occurrence around the middle of June when the readjustment starts from a cornfed to a grass basis. * Marketing of cattle has been some- what heavier this yegr than last, buc 1930 was a light year. In all, the supply and the offering of came is below normal. The sharp drop in cattle prices, estimated at $5.83 per hundredwe}ght or 44 per cent, in the months of the year, is credited prlmrfly to the general weakness in consumer demand. By the last week in May most kinds of cattle were selling at the lowest levels since 1911, the wholesale price of choice beef dropped from 18 cents a pound in New York during January to less than 13 centd the first week in June and at the end of May the New York retail value of beef that could be obtained from 100 pounds of good-grade live steer was $4.3¢ less than on the same date lost year. Hog Prices. ‘The upturn of 50 to 75 cents in hog prices on the heels of two weeks’ grad- ual gain was credited primarily to continued light receipts. There were bout 25 per cent fewer hogs received at the 12 principal markets than for the first four “days of the same week a yea Rec‘lpu were a little heavier than last week, but the effect was discounted because supplies already had be:n cut below trade requirements at that time. | The price advance was partially due to light loadings for iwo or thre: weeks and suggested that values previously had been forced too low. Top-grade hogs seem capable of hold- ing their gain, but extreme w:ights and packing sows are a little slow. Heavies got only a 25 cent upturn and only light packing sows wers at the tall end of th: 15 and 40 cent increase. last year, packing sows now are run- ning about 30 per cent of the total receipts. The current decline in sheep and lambs has continu:d with renewed vigor, 21l grades and classes pushing into %ehw e market progressed downward at a 50- cent to $1 clip for the second con- secutive wek. To illustrate the severity, choice range lambs, comgarable to $10.50 kinds early in Jun®, sold at Chicago for $8.25, and on the New York wholesale mar- kit a 50-pound mutton carcass could be bought for $l1—the lowest price recorded by the Department of Agri- culture since 1892. INTEREST RATES REDUCED. NEW YORK, June 22 (#).—The Bow- ery Savings Bank, the Dry Dock Savings Institution, the Emigrant Industrial Savings Bahk and the Union Dime Sav- | ings Bank, four of the largest institu- tions of their kind in this city, an- nounced in a joint statement today that interest paid on deposits beginning July 1 would be credited at the rate of 3'; ver cent a year. The rate for the quar- ter ending June 30 will be 4 per cent. The aggregate of this interest will ex- ceed $11,000,000. The reduction was made because of the steadily decreasing yield on high- grade investments, the statement said, and it mentioned the 315 per cent in- terest paid on the recently floated bonds of the United States Government as an example. - PARIS BOURSE PRICES. PARIS, June 22 (#).—Prices were buoyant on the Bourse today. ‘Three per cent rentes, 88 francs 30 centimes. Five per cent loan, 103 francs 7 centimes. Exchang on London, 124 francs 2715 centimes. The dollar. was quoted at 25 francs 54 centimes. OPPORTUNITY We have prepared a list of stocks, which we believe are particularly attractive at pres« Members NEW YORK AND BALTIMORE STOCK EXCHANGES Associate Member NEW YORK CURB EXCHANGE _ ent price levels. . List on request Tolephoncs Metropolitan 5020 Mcckubm Goodrlch & Co. ES‘I’AI B‘A_NKERS REDWOOD & SOUTH STS. BALTIMORE, MD.